The United Kingdom has pledged to invest over US$385 million in Myanmar in two years time, according to statistics of the Directorate of Investment and Company Registration.
The UK invested... [ More ]
Yet this space is highly contingent on a number of volatile factors: the goodwill of the current President and his associates in Parliament, the ability of Aung San Suu Kyi to assure the... [ More ]
If the 10-nation ASEAN bloc is to double its economy by 2020, then a large thrust of the growth rate will be coming from Myanmar.
According to consultancy McKinsey Global Institute,... [ More ]
Myanmar was one of East Asia’s fast growing advanced economies in the early 20th century. But decades of isolation took its toll and Myanmar was left out of the region’s remarkable... [ More ]
Thailand’s Jay Mart (JMART), the mobile handset retailer, is tapping the undeveloped telecom market in Myanmar with a plan to open 20 shops there this year.
The move comes after the Myanmar government last Thursday awarded telecom licences to Norway's Telenor and Qatar's Ooredoo to provide mobile service.
Chief executive Adisak Sukumvitaya said Jay Mart has already set up three shops in Yangon this year in preparation for the opening of Myanmar's telecom market.
Through J&P Myanmar,...
The biggest and most colorful collection of telecommunications companies assembled in years is waiting for the decision bell to ring in Naypyitaw this week on one of the world’s last untapped mobile phone markets.
Twelve international telecom businesses and consortia are on a government shortlist, out of which only two will be awarded contracts to build networks for potentially more than 50 million new telephone customers.
The decision on Thursday will pave the way to propelling Myanmar...
On June 27, Myanmar announced that the government awarded a telecommunications contract to Qatari company Ooredo. It sparked a social media backlash in Myanmar. Citizens threatened boycott of its services. The Buddhist community was surprised by the win, especially as public pressure on the government in 2012 blocked the Organization of Islamic Countries from opening a Myanmarese office. The incidents reflect societal prejudice against OIC’s intentions. A grand strategy to spread Islamic...
The Myanmar government plans to renegotiate billions of dollars of natural resource deals as it imposes tougher environmental standards and clamps down on corruption, a leading US think tank said Monday.
The country's powerful military and Chinese firms could be most affected by the move as the government pursues a radical reform agenda, turning away from decades of junta rule, according to the Asia Society.
Myanmar has huge reserves of resources -- ranging from petroleum to tin, timber...
Myanmar will have its own stock exchange soon, according to the country’s deputy minister for finance and revenue, Maung Maung Thein. Preparations and implementations for the market are already underway.
“Earlier we planned to begin in 2015, but it would be too late. So, we are beginning this year,” said Thein, according to Mizzima, a Myanmar news portal based in India.
To establish the stock exchange, the Central Bank of Myanmar is cooperating with the Daiwa Institute of Research...
The Thai government has embarked on a disastrous and costly rice subsidy program to benefit its rice farmers – the program cost the government $4.4 billion last year – but an unexpected beneficiary turned out to be Myanmar, as Thai traders flock to the neighboring country to buy rice that will then be sold to the Thai government at a hiked price.
"For a long time, Thailand did not buy any rice from Myanmar… But at the beginning of this year, Thai traders started to buy normal rice and...
The PTTEP of Thailand has found new natural gas deposit from three more test wells at M-3 Mottama offshore block in Myanmar, official media reported Sunday.
The three test wells Aung Thinkha- 4, 5 and 6, which were drilled in February and May 2013, are yielding 4.38 million cubic feet and 20 barrels of condensate, 5 million cubic feet and 30 barrels of condensate and, 14.34 million cubic feet and 2,000 barrels of condensate per day, said the New Light of Myanmar.
The PTTEP, which is...
Exim Bank of India has been granted a license to open a representative branch in Myanmar, according to Indian Media.
The move follows a Memorandum of Understanding (MOU) totaling $500 million that was signed between Exim and the Myanmar Ministry of Finance and Revenue during Indian Prime Minister Manmohan Singh’s May 2012 visit.
The banking license was presented by Thein Zaw, Deputy Director General of the Central Bank of Myanmar’s (CBM) Financial Institutions Supervision Department,...
RANGOON — Burma’s extractive industries remain plagued by transparency and governance shortcomings, a watchdog said on Wednesday as it released a report attempting to dampen the hype that has surrounded the country’s opening up to foreign investment after decades of isolation and economic stagnation.
The report by the Shwe Gas Movement pummeled the existing regulatory regime as woefully inadequate to address the social and environmental concerns facing Burma as its resource bounty is...
British American Tobacco is returning to Burma a decade after campaigners forced the world’s second-largest tobacco company by market share to leave the country due to BAT’s links with the military regime.
BAT said it would spend about $50 million on a factory in Burma (also known as Myanmar) to produce its London brand of cigarettes after it left the country following an “exceptional” request from the British government to stop doing business there in 2003.
Tony Blair, the prime...
Myanmar Time is 6:30 hours ahead of Greenwich Mean Time. For example on a Monday at midnight in Yangon , it will be:
New York (Eastern Standard) 1230 hours on Monday
London (GMT) 1730 hours on Monday
Bangkok 0030... ... More
